Publication: Artificial Intelligence for Risk Mitigation in the Financial Industry
Дата
2024
Авторы
Gusev, Alexey
Journal Title
Journal ISSN
Volume Title
Издатель
WILEY
Аннотация
The applications of the financial industry incorporate vast volumes of structured and unstructured data to gain insight into the financial and non-financial performance of companies. As a result of exponentially increasing data, auditors and management professionals need to enhance processing capabilities while maintaining the effectiveness and reliability of the risk mitigation process. The risk mitigation and audit procedures are processes involving the progression of activities to “transform inputs into output.” As AI systems continue to grow mainstream, it is difficult to imagine an aspect of risk mitigation in the financial industry that will not require AI-related assurance or AI-assisted advisory services. AI can be used as a strong tool in many ways, like the prevention of fraud, money laundering, and cybercrime, detection of risks and probability of NPAs at early stages, sound lending, etc.
Описание
Ключевые слова
Economic Impacts , Finance , Econometrics , Economics
Цитирование
Gusev , A. , A New Surge of Interest in the Cybersecurity of VIP Clients is the First Step Toward the Return of the Previously Used Positioning Practice in Domestic Private Banking // Artificial Intelligence for Risk Mitigation in the Financial Industry, 2024 .- https://doi.org/10.1002/9781394175574.ch8